# Custom Formula Collection

Elder Ray and The Force Index

Please refer to Dr. Elder for interpretation.

Here are the formulas for calculating the Elder Ray, and the Force Index.

Bull Power: H - Mov(C,13,E) (High minus the moving average)

Bear Power: L - Mov(C,13,E) (Low minus the moving average)

To plot the Elder Ray:

- Create the two custom formulas from above.

- Open the base security.

- Plot a 13-Period Exponential Moving Average of the closing price in a new inner window.

- Drag the Bear Power formula and drop it in a new inner window.

- Drag the Bull Power formula and drop it in a new inner window.

- Or, you may drop all three indicators in the same inner window if you wish.

The formula for the force index is:

V*(C-ref(C,-1))

NOTE: This formula requires the presence of volume data to work

To plot this formula as a histogram, after dropping the formula in an inner window, right click on the indicator and select properties. Select styles and choose the histogram.

For additional help with formulas, please see the Formula Primer.

Can't find the custom formula you need? MetaStock can create formulas for you.

- Creating Custom Formulas
- Absolute Breadth Index
- Advance / Decline Line with Negative Volume
- ADX/ADXR Custom (without rounding)
- Alpha and Beta
- Arms Index (TRIN)
- Average-Modified Method
- Breadth Thrust
- CCI Moving Average Crossover System Test
- Chande's Momentum Oscillator
- Combining Trend and Oscillator Signals System Test
- Commodity Channel Index Buy and Sell Signals
- Comparative Relative Strength
- Comparative Relative Strength Exploration
- Coppock Curve
- Derivative Moving Average
- Detrended Price Oscillator
- Disparity Index
- Displaying the Price of a Security in 32nds and 64ths
- Divergence between the Close and an Indicator
- Dynamic Momentum Oscillator
- Elder Ray and The Force Index
- End Point Moving Average
- Genesis of a Simple Futures Trading System
- Historical Volatility Daily
- Historical Volatility System, Connors and Raschke's
- Historical Volatility Weekly
- InSync Index
- Investor Preference Index
- Keltner Channels
- Ken Roberts' Formulas
- Kurtosis Indicator
- MACD Histogram
- Market Facilitation Index
- Market Facilitation Index Expert Advisor
- Market Thrust Oscillator
- Martin Pring's KST Formulas
- Mass Index
- McClellan Oscillator
- McClellan Summation Index
- Modified VIX Indicator
- Money Flow Index
- Moving Average of Only One Day of a the Week
- Natenberg's Volatility
- New Advance Decline Line
- Pathfinder Trading System
- Polarized Fractal Efficiency
- Price Action Indicator (PAIN)
- Price Volume Rank
- Random Walk Index
- Rate of Change Since a Specific Date
- Regression Oscillator and the Slope/Close Indicator
- Relative Strength Index, Custom (RSI)
- Relative Volatility Index (RVI)
- Slope of a Line
- Slope of a Linear Regression Line
- Standard Error Bands
- STIX Oscillator
- Stochastic %D
- Stochastic Relative Strength Index
- Tick Line Momentum Oscillator
- Trading Channel Index
- Wilder's Volatility
- WillSpread by Larry Williams

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